OGDEN, UT--(Marketwire - Dec 12, 2012) - As TAB Bank continues to take strides to ensure compliance and adherence to federal regulations and other statutes, it is pleased to announce the appointment of Michael Palmer as Vice President of Compliance. As an FDIC-insured bank, TAB maintains a strong and vibrant Compliance department with many professionals who possess strong compliance and regulatory backgrounds. In his new role, Palmer will provide direction to the bank's compliance team as well as oversight of the bank's compliance objectives and responsibilities.
TAB Bank (@TABBank) provides custom working capital solutions to commercial businesses from many industries. These solutions are provided in all stages of business life cycles during any economic conditions. TAB Bank does this through Accounts Receivable Financing, Lines of Credit, Equipment Finance, Asset Based Loans, Business Accounts, and Commercial Banking Services.
Palmer joined TAB Bank in September of this year and served briefly in the role of Compliance Manager prior to his appointment as Vice President of Compliance. Prior to coming to TAB, Palmer spent the last 13 years working at Wells Fargo in various capacities. He spent the first four years on the retail side of Wells Fargo, and the last nine years in compliance. While in compliance, he worked for Wells Fargo Financial ensuring compliance of the retail branch network in five states. In addition, he also worked for Wells Fargo Home Mortgage specializing in new regulation implementation and special projects as well as for Wells Fargo Bank International Group where he focused on the Bank Secrecy Act and Anti-Money Laundering regulations and provisions and other high risk issues. Palmer has degrees in finance and marketing from Utah State University, an MBA from Brigham Young University, and he is a Certified Regulatory Compliance Manager.
"Since joining TAB, Michael has been a great asset and addition to our Compliance department and the entire bank. He has an impressive professional and educational background that make him a great fit for this position as we continue to take every step necessary to comply with the regulatory environment in which we operate and serve our clients. We are very excited for the many contributions he will make in his new role," stated Steve Sala, President of TAB Bank.